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 Cheapest Life Insurance USA

AAFMAA - Life Insurance


AAFMAA Overview

AAFMAA Mission
To be the premier provider of insurance and survivor services to the Army and Air Force communities.

AAFMAA Objective
To be the absolute lowest cost provider of life insurance products to the Army and Air Force communities.

AAFMAA Structure
A non-profit, tax exempt service organization. Army and Air Force personnel on active duty or retired status (Reserve Component included) are eligible for membership. Membership exceeds 63,000. The Association's strong financial foundation is a result of over 120 years of investing membership dues in successful endeavors.

AAFMAA History
The Army Mutual Aid Association was established in 1879 after the Battle of Little Big Horn, or "Custer's Last Stand." During frontier times when an officer died, the remaining soldiers would literally "pass the hat" to raise money for the surviving family. This system collapsed, however, with the Battle of Little Big Horn. There were too few survivors to pass the hat, thus leaving the deceased soldiers' families in need. To remedy this situation, Army officers established the Army Mutual Aid Association.

1954 - Eligibility extended to Guard/Reserve.
1984 - Eligibility extended to USAF officers, Guard / Reserve included.
1987 - Name changed to Army and Air Force Mutual Aid Association (AAFMAA.)
1995 - NCOs admitted; age limit raised to 66.
2000 - Eligibility extended to all Army and Air Force personnel, regardless of rank

AAFMAA Life Insurance Overview

AAFMAA offers a variety of low cost whole and term policies to meet the life insurance needs of their members and their spouses with coverage of up to $500,000 total per person. Unlike most commercial life insurance policies, their policies have no wartime clause or aviation exclusion, so you can be assured your benefit will be paid in the event of a combat death.

Value-Added Whole Life
This policy gives members and their spouses the protection of permanent whole life insurance plus growth in cash value and, in time, increased death benefits.

Level Term to Age 50
This policy is designed for, but not limited to, active duty personnel and their spouses who need insurance to complement or replace their SGLI coverage.

Level Term II
You pick the length and amount of coverage. AAFMAA give you level premiums and death benefit for the life of the policy.

Five-Year Renewable Term Life Insurance
This policy for up to age 70 is written in 5-year intervals with guaranteed renewability. It is attractive for those who do not need the long-term benefit of a whole life policy or are not sure how long they will need term insurance.

College Protection Policy
This policy is designed to pay for your children or grandchildren's college education in the untimely event of your death.

Insurance for your Spouse
Once you become a member, your spouse is eligible to be insured with any of the same policies for which you are eligible. Insurance amounts are available as low as $10,000 to as much as $500,000.

Coverage for Children and Grandchildren
For the youngsters in your life. Preserve your wealth and save for your child’s or grandchild’s future with this Whole Life Interest-Sensitive policy.

AAFMAA - Value Added Whole Life

Growth in two ways.
Available in $10,000 units up to $500,000. Accumulates cash value and increases death benefits over time. Cash value growth is tax deferred and there are no surrender charges.

A history of above average crediting rate.
The crediting rate of the policy is NOT guaranteed and is based on AAFMAA’s annual investment performance. AAFMAA is a non-profit, tax exempt organization with minimal operating expenses and no sales force working on commissions. Professional investment management and a conservative long-term perspective generate consistently high returns. Currently their crediting rate is 8.25%.

Payment plans to fit your life.
You select a payment plan to fit your financial needs. Accelerated payment plans such as single premium, 7, 20 and 30 year provide faster policy pay-up and greater growth of cash value and death benefits. Monthly, quarterly and annual premium payments are available.

Premium refund.
If dissatisfied at any time with this policy you are absolutely guaranteed a total refund of all your premiums paid.

102 Sheridan Avenue,
Ft. Myer,
VA 22211-1110

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